Newton Median Home Prices

The real estate market in Newton MA is well known for its beautiful homes and sprawling estates, so it should come as no surprise that buying a home here is not cheap. The median price for single family homes for sale in Newton is $1.59M over the past 365 days. That makes Newton the 8th most expensive place to purchase a home in Metro Boston and similar to buying a home in Charlestown ($1.33M) or Bay Village ($1.65M).

Despite the exorbitant pricing, properties have been flying off the shelves in Newton. The 1,115 residential real estate sales recorded in Newton over the past year was the second most in Boston behind only Quincy. There are currently 80 active Newton listings for sale in MLS which is well above the current average for all neighborhoods. The high volume of sales in Newton can certainly be explained by the sheer size of the area in relation to other Metro neighborhoods. However that doesn’t explain why buyers flocked to one of of Boston’s most expensive markets during the tail end of a pandemic.

One theory is the typical buyer profile in Boston is changing. A huge influx of venture capital to Boston and Cambridge in recent years has turned the blue collar Boston of old into a white collar tech hub. Combine that with the shortage of single-family homes for sale in Boston, Newton has become even more attractive to buyers for its open spaces and big back yards.